Kabam Sells Stock In Secondary Deal

San Francisco-based massively multiplayer game developer Kabam said Monday that it has sold a secondary offering of its stock, to allow current and former employees to chash out of the company. According to Kabam, the valuation of the secondary deal values the company at $700M. Kabam did not say who funded the secondary offering. The firm said the deal would help provide liquidity to employees while continuing to operate privately, without requiring the company to reach an IPO. Kabam's employees sold $38.5M of their stock in the sale.